Economics

Economics

basics of economics

Industry: Economy

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Economics

exogenous

Economy; Economics

Outside the model. For instance, in traditional Neo-classical economics, models of growth rely on an exogenous factor. To keep growing, an eco¬nomy needs continual infusions of technological ...

exchange rate

Economy; Economics

The price at which one currency can be converted into another. Over the years, economists and politicians have often changed their minds about whether it is a good idea to try to hold a country’s ...

exchange controls

Economy; Economics

Limits on the amount of foreign currency that can be taken into a country, or of domestic currency that can be taken abroad.

Getting more money from an economic investment than you needed to justify investing. In perfect competition, the factors of production earn only normal returns, that is, the minimum amount of wages, ...

evolutionary economics

Economy; Economics

A Darwinian approach to economics, sometimes called institutional economics. Following the tradition of Schumpeter, it views the economy as an evolving system and places a strong emphasis on ...

European Union

Economy; Economics

A club of European countries. Initially a six-country trade area established by the 1957 Treaty of Rome and known as the European Economic Community, it has become an increasingly political union. In ...

European Central Bank (ECB)

Economy; Economics

The central bank of the European union, responsible since January 1999 for setting the official short-term interest rate in countries using the Euro as their domestic currency. In this role, the ...